Steven's Feed
Dec 19, 2013

Rise of shareholder activism gives bond investors headaches

NEW YORK, Dec 19 (Reuters) – When shareholder activist Carl
Icahn turned up the heat on Apple in October, demanding a
massive $150 billion share buyback, bond investor Bill Gross
wasn’t having any of it.

Gross, the co-chief investment officer of Pimco, which runs
the world’s largest bond fun, took to Twitter, saying: “Icahn
should leave Apple alone & spend more time like Bill Gates,”
referring to the Microsoft chairman now famous for his
philanthropic efforts.

Dec 9, 2013

Fed’s Lacker: Risks of further bond-buying outweigh benefits

CHARLOTTE, North Carolina (Reuters) – Further monetary stimulus is unlikely to do much to help the U.S. economy and the risks of pressing ahead with the policy outweigh the benefits, a top Federal Reserve official said on Monday.

Speaking ahead of the central bank’s December 17-18 policy meeting, Richmond Fed President Jeffrey Lacker said pressing on with the Fed’s $85-billion-a-month bond buying program will do little to help an economy being held back by slow growth in population and productivity.

Nov 21, 2013

Euro zone doesn’t face Japan-style lost decade-ECB’s Asmussen

NEW YORK, Nov 21 (Reuters) – The euro zone does not face a
“lost decade” like Japan experienced in the 1990s, and reforms
will help support a gradual recovery that is already taking
hold, a top European Central Bank policymaker said on Thursday.

Joerg Asmussen said that euro zone was using this decade
well and “fixing our problems at the root.”

Nov 21, 2013

U.S. factories rebound, but Europe, China falter

LONDON/NEW YORK (Reuters) – U.S. factory output rebounded this month but hiring remained sluggish, while business activity across the euro zone and at China’s manufacturers slowed, surveys showed on Thursday.

The data underscored the fragile nature of the global recovery and the difficulties still facing the world’s biggest economies.

Nov 19, 2013

As market bubbles form, investors may take cover

NEW YORK (Reuters) – Five years of rapid-fire money printing at the U.S. Federal Reserve and easy money policies at other central banks have left trillions of dollars sloshing around the world financial system, and some of it is ending up in some rather odd places.

The froth can be seen in everything from Pakistan’s stock market to thoroughbred racehorses, rare paintings and gemstones, taxi licenses and the digital currency Bitcoin.

Nov 18, 2013

Analysis: As market bubbles form, investors may want to take cover

NEW YORK (Reuters) – Five years of rapid-fire money printing at the U.S. Federal Reserve and easy money policies at other central banks have left trillions of dollars sloshing around the world financial system, and some of it is ending up in some rather odd places.

The froth can be seen in everything from Pakistan’s stock market to thoroughbred racehorses, rare paintings and gemstones, taxi licenses and the digital currency Bitcoin.

Nov 18, 2013

As market bubbles form, investors may want to take cover

NEW YORK, Nov 18 (Reuters) – Five years of rapid-fire money
printing at the U.S. Federal Reserve and easy money policies at
other central banks have left trillions of dollars sloshing
around the world financial system, and some of it is ending up
in some rather odd places.

The froth can be seen in everything from Pakistan’s stock
market to thoroughbred racehorses, rare paintings and gemstones,
taxi licenses and the digital currency Bitcoin.

Nov 18, 2013

Foreigners avoid short US assets in Sept, buy longer ones-Treasury

NEW YORK, Nov 18 (Reuters) – Foreigners fled from short-term
U.S. assets in September as a budget battle in Washington raised
fears the government could default on some obligations, though
demand for longer-term securities rose, U.S. Treasury data
showed on Monday.

The budget standoff that was building in September forced a
partial government shutdown that lasted for the first 16 days of
October. That dented the safe-haven status of U.S. Treasury
bills and pushed yields up sharply on bills maturing toward the
end of that month.

Nov 6, 2013

German prosecutors widen inquiry into Deutsche Bank

MUNICH (Reuters) – German prosecutors have widened an investigation of Deutsche Bank’s co-chief executive Juergen Fitschen to include the bank itself, deepening legal problems as it tries to transform its culture after the financial crisis.

The Munich public prosecutor named Fitschen earlier this week as a suspect in an investigation into whether he offered misleading evidence about a decade-old dispute over the collapse of the Kirch media empire.

Nov 4, 2013

Stocks edge up; key central banks on investors’ minds

NEW YORK, Nov 4 (Reuters) – Major world stock indexes rose
on Monday, with the S&P 500 extending a four-week winning
streak, while European manufacturing data helped the euro
recover from a six-week low.

At the same time, a report showing a drop in U.S. business
investment in September clouded views on when the Federal
Reserve will start withdrawing its stimulus spending.